Hanwha Solutions, which is pushing a rights offering worth trillions of won, disclosed on the 12th that it set the first issue price for the rights offering at 27,900 won per common share. The final issue price for the rights offering will be announced on the 20th of next month after adjustments.
The first issue price set that day is 5,400 won lower than the price (33,300 won per share) planned at the time of the March rights offering announcement. As a result, the size of the rights offering also decreased from 1.7092 trillion won to 1.4787 trillion won. The final size of the capital increase will vary depending on the final issue price.
The Hanwha Solutions rights offering passed the Financial Supervisory Service review after three amendments. Earlier, on Mar. 26, Hanwha Solutions said it would raise a total of 2.3976 trillion won through a rights offering for facility investment (907.7 billion won) and debt repayment (1.4899 trillion won).
The Financial Supervisory Service (FSS) requested another amended filing, and Hanwha Solutions reduced the final offering amount to 1.7 trillion won. While maintaining 907.7 billion won for facilities funding, it cut the debt repayment funds to 906.7 billion won.
Hanwha Solutions plans to invest the funds secured through the rights offering in future solar projects after repaying debt. In particular, it intends to allocate 100 billion won to a perovskite tandem pilot line and 800 billion won to expand TOPCon production capacity, which can be used as the bottom cell of the stacked-structure tandem.
Tandem cells are next-generation solar cells that stack silicon cells and perovskite cells, which absorb light in different ranges, to maximize power generation efficiency. Qcells is conducting research and development with a goal of commercializing ground-mounted tandem products in 2029.